substantiation
Most businesses incur travel, meal, gift, and listed property expenses in the ordinary course of business. The IRS requires documentation in order to substantiate that these expenses have a legitimate business purpose and if substantiation is not present the IRS may disallow the expense altogether.
We know you have many options when it comes to accounting firms in St. Paul or the Twin Cities area, and we know weโre not the right fit for everyoneโbut when youโre ready to start a conversation, weโll be ready to listen. 
REDPATH INSIGHTS
- Standards of Value: Recognizing the DifferencesAsk a professional a question about the value of your business and most often the answer will be, โIt depends." This may seem counterintuitive, but the value will differ depending on the purpose of the engagement. We see this concept play out in mergers of publicly traded companies.
- Guest Blog: The โTexas Shoot-Outโ for Business Partner DeadlockWhat many shareholders, partners, and members forget at the beginning of their new business venture is that planning for the eventual dissolution or termination of the company can be extremely beneficial. One tool that is used as a last resort at the end of a โdeadlockโ situation is known as the โTexas Shoot-Out.โ Though going […]
- Changes to 2020 Form W4 for Employers and EmployeesThe Internal Revenue Service has made extensive changes to Form W-4 (Employeeโs Withholding Certificate) to adjust employee withholding calculations to better align with the Tax Cuts and Jobs Act. For some, the form in its current 2019 layout goes back with them through the majority of their working years, if not through all of them. […]